HFF Provides $26.65M Loan For USC Student Housing Portfolio
FINANCED
$26,650,000
California
See Similar DealsMixed-use81,374 SF
Financed 11/06/2018
FINANCED
HFF Provides $26.65M Loan For USC Student Housing Portfolio
University of Southern California, Los Angeles, CA, USA
See Similar DealsMixed-use81,374 SF
Financed 11/06/2018
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$327
Total Square Footage:81,374 SF
Transaction Type:Loan
A student housing portfolio comprising of 19 properties and 245 beds, located at University of Southern California in LA, has secured a loan of $26,650,000 from HFF. This five-year fixed-rate loan allows the owner, Mosaic Investment Partners, to continue operating these properties as student housing. The total square footage of the portfolio is 81,374.
Summary of transaction details
- Property Type: Student Housing Portfolio
- Transaction Amount: $26,650,000
- Address: University of Southern California, LA
- Asset Type: 19 properties, 245-bed student housing portfolio
- Lender: HFF
Greg Brown represented the lender, HFF, throughout the loan transaction. AJ Manas, on the other hand, represented Mosaic Investment Partners as the landlord's representative. Both individuals played a crucial role in ensuring the successful completion of this financing agreement.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,650,000.00
Monthly NOI$177,666.67
Monthly Debt Service$168,446.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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